Quote from: ancafe on Today at 03:03:40 PM

Quote from: WillyAp on January 19, 2025, 05:07:35 PM

Most people don't know the reasoning behind BRICS and the refusal to use the $
It's pretty simple, the US $ is not stronger but the local currencies are getting weaker.

The weakening of the local currency is caused by several conditions that occur and vice versa with the strengthening of the dollar is also influenced by several events so that this is slightly more detrimental to some countries. But the problem is how strong BRICS can provide certainty for the journey of the local currency who joined them and it feels difficult to beat the dominance of the dollar if the strength of BRICS itself is not that strong.

You are right. This will definitely not be easy to achieve. Dollar dominance will be hard to defeat if the member countries are not economically strong enough to push their agenda. One major challenge BRICS is going to face is the economic and political strength of its member countries. The economic and political strength of these member countries will determine its global acceptance and long-term adoption. If these member countries are weak, it will be difficult for them to align with the policies made and form a unified force, and this does not encourage transparency. The dollar already has a strong force backing it up; BRICS has a lot to do.